Print Published 23rd Nov 2018, 22:24

Omnicom attacks tender offer for some of its shares

Omnicom Group has attacked an attempt by a Canadian investment fund TRC Capital Corporation to acquire some 0.9% of its capital by means of a tender offer priced at $71.50 per share.

“The offering price is 4.3% below the closing price per share of Omnicom’s common stock on 2 November 2018, the last trading day before the tender offer commenced, and the offering price is 7.2% lower than the closing price per share of Omnicom’s common stock on 21 November 2018”, Omnicom said.